Consider the following statements regarding Champion Services Sector Scheme (CSSS): 1. It is a Central Sector scheme to boost services exports across broad range of services. 2. 12 Champion services sectors have been identified for the scheme. Which of the statements above given is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C

Notes:

It is a Central Sector, umbrella scheme of Department of Commerce for the period 2019-20 to 2023-24.

12 Champion services sectors have been identified to give focused attention on their promotion. Example: IT & ITeS, tourism, legal services, financial services etc.
Ministries/Departments concerned with these sectors have been directed to finalize and implement the Action Plans for the identified Champion Services Sectors which in effect would be their sectoral schemes operating under the umbrella scheme CSSS. Example: nodal ministry for CSSS: IT & ITeS is Ministry of electronics and technology.

The respective line Ministries/Departments will also finalize a monitoring mechanism to monitor implementation under the overall guidance of the Committee of Secretaries (CoS) under Cabinet Secretary.
A dedicated fund of Rs. 5000 crores have been proposed to be established to support initiatives for sectoral Action Plans of the Champion Sectors.

Source: PIB